SHANGHAI: The People's Bank of China, the central bank, and the Ministry of Finance auctioned 60 billion yuan ($9.4 billion) of six-month finance ministry deposits to commercial banks on Tuesday at a rate of 6.00 percent, traders said.
The yield was the same as the rate for the deposits of the same tenor auctioned on Nov. 10, suggesting market expectations of China's monetary policy trend has not changed much since.
Banks will bid for the right to take the deposits. The sale, like previous such exercises, is part of the finance ministry's cash management programme.
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